Zacks Research Predicts Timken’s FY2024 Earnings (NYSE:TKR)

The Timken Company (NYSE:TKR) – Analysts at Zacks Research reduced their FY2024 EPS estimates for Timken in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst M. Das now anticipates that the industrial products company will post earnings per share of $5.62 for the year, down from their prior forecast of $6.03. The consensus estimate for Timken’s current full-year earnings is $5.61 per share. Zacks Research also issued estimates for Timken’s Q1 2025 earnings at $1.73 EPS, Q2 2025 earnings at $1.61 EPS, Q4 2025 earnings at $1.31 EPS, FY2025 earnings at $6.23 EPS, Q1 2026 earnings at $1.77 EPS, Q2 2026 earnings at $1.71 EPS, Q3 2026 earnings at $1.67 EPS and FY2026 earnings at $6.64 EPS.

Timken (NYSE:TKR) last issued its quarterly earnings results on Tuesday, November 5th. The industrial products company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Timken had a net margin of 7.41% and a return on equity of 14.82%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis.

Other research analysts have also recently issued research reports about the stock. Evercore ISI upgraded shares of Timken from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $87.00 to $91.00 in a report on Wednesday, November 13th. KeyCorp cut their price target on shares of Timken from $104.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 6th. DA Davidson cut their price target on shares of Timken from $103.00 to $99.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Citigroup began coverage on shares of Timken in a report on Monday, October 14th. They issued a “neutral” rating and a $90.00 price target on the stock. Finally, Oppenheimer cut their price target on shares of Timken from $102.00 to $97.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $90.00.

Timken Stock Up 1.7 %

Shares of NYSE TKR opened at $75.22 on Thursday. Timken has a one year low of $71.57 and a one year high of $94.71. The company has a debt-to-equity ratio of 0.71, a current ratio of 3.00 and a quick ratio of 1.62. The firm’s 50 day simple moving average is $81.53 and its two-hundred day simple moving average is $82.99. The stock has a market capitalization of $5.27 billion, a P/E ratio of 15.64, a PEG ratio of 1.09 and a beta of 1.43.

Timken Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.81%. The ex-dividend date is Tuesday, November 19th. Timken’s dividend payout ratio is currently 28.27%.

Insider Buying and Selling at Timken

In other news, Director Richard G. Kyle sold 30,000 shares of Timken stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $76.59, for a total value of $2,297,700.00. Following the completion of the transaction, the director now owns 194,485 shares of the company’s stock, valued at $14,895,606.15. The trade was a 13.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Timken

Several large investors have recently modified their holdings of TKR. Hotchkis & Wiley Capital Management LLC raised its position in shares of Timken by 34.3% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,700,979 shares of the industrial products company’s stock worth $143,376,000 after purchasing an additional 434,800 shares during the last quarter. Vanguard Group Inc. raised its position in Timken by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 6,515,972 shares of the industrial products company’s stock worth $569,691,000 after buying an additional 347,794 shares during the last quarter. Interval Partners LP purchased a new position in Timken in the 1st quarter worth about $22,907,000. Verition Fund Management LLC raised its position in Timken by 3,179.1% in the 3rd quarter. Verition Fund Management LLC now owns 193,858 shares of the industrial products company’s stock worth $16,340,000 after buying an additional 187,946 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Timken by 4.8% in the 2nd quarter. American Century Companies Inc. now owns 2,817,294 shares of the industrial products company’s stock worth $225,750,000 after buying an additional 128,791 shares during the last quarter. Hedge funds and other institutional investors own 89.08% of the company’s stock.

Timken Company Profile

The Timken Company designs, manufactures, and sells engineered bearings and industrial motion products, and related services in the United States and internationally. The company's Engineered Bearings segment provides various bearing products, including tapered, spherical, and cylindrical roller bearings; plain bearings, metal-polymer bearings, and rod end bearings; radial, angular, and precision ball bearings; thrust and specialty ball bearings; journal bearings; and housed or mounted bearings.